A recent report published by Infinium Global Research on waterproof tapes market provides in-depth analysis of segments and sub-segments in the global as well as regional waterproof tapes market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional waterproof tapes market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global waterproof tapes market. According to the report, the global waterproof tapes market is projected to grow at a CAGR of 6.5% over the forecast period of 2018-2024.
Waterproof tapes are widely used to seal hoses and ducts. This tape exhibits air and weather resistance as well as excellent moisture-proof, abrasion resistance, and excellent adhesion. Waterproof tapes are finest high-quality tapes which have durability, strength and elasticity factor.
The waterproof tapes market is driven by increasing demand for waterproof tapes in various end-user industries such as automotive, building and construction, packaging, consumer electronics, and packing. Waterproof tapes are thin films applied for various materials such as concrete, steel and many others in `order to increase the properties like air resistance, weather resistance, and excellent moisture-proof properties. Additionally, waterproof tapes offer versatility, abrasion resistance, durability and high performance that are properties contributes to the growth of waterproof tapes market. Nowadays, automotive industry utilizes more waterproof tapes compare to other industry. Waterproof tapes are widely used to attach parts onto the outer surface of car bodies, protecting against scratch, and wrapping cable harness for the exterior applications. Moreover, the growing use of waterproof tapes in residential and commercial activities coupled with advancement in the field of infrastructures and construction activities have a positive impact on the growth of the market. However, strengthen environmental policies in the developed regions may hamper the growth of waterproof tapes market. Furthermore, the growing use of waterproof tapes in the healthcare sector creates immense opportunities market. Using waterproof tape enables prevention of water from seeping through the bandage and into the wound. These type of tapes are especially useful when swimming and showing. Waterproof tapes market has very high growth potential with immense research and development activities in taking place across the developing economies. Furthermore, increasing awareness regarding the benefits of waterproof tapes is anticipated to boost at the market growth in the forthcoming years.
Among the region, Asia Pacific is expected to be the largest region in the waterproof tapes market owing to the growth in construction activities and development in the automotive sector. Additionally, increasing use of waterproof tapes in the healthcare industry coupled with the easy availability of raw material are some factors responsible for the growth of the market.
The report on global waterproof tapes market covers segments such as resin type, substrate type, and end-user. On the basis of resin type, the sub-markets include acrylic, butyl, silicone, and others. On the basis of substrate type, the sub-markets include metal, plastic, rubber, and others. On the basis of end-user, the sub-markets include automotive, building and construction, electrical and electronics, healthcare, and packaging.
The report provides profiles of the companies in the market such as Medline Industries, Inc., 3M Company, AVERY DENNISON CORPORATION, NITTO DENKO CORPORATION, Henkel AG & Co. KGaA, tesa SE, Scapa Group plc, Illinois Tool Works Inc., Johnson & Johnson Services, Inc., and Asian Paints Limited.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of waterproof tapes market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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